Astrobotic makes bid to buy assets of bankrupt Masten
Capitalism in space: Astrobotic, a startup focused on building lunar and planetary unmanned landers, has now made a formal bid to buy the remaining assets of Masten Space Systems, which had also been a startup focused on planetary missions but recently went bankrupt.
In a filing with the U.S. Bankruptcy Court for Delaware Aug. 14, Masten said it received a “stalking horse” bid of $4.2 million for Masten’s assets, including a SpaceX launch credit worth $14 million, from Astrobotic. The agreement, in effect, sets a minimum price for the sale of those assets but does not prevent Masten from seeking higher bids through an auction process that runs through early September.
The agreement appears to supersede an earlier agreement between Masten and a third lunar lander company, Intuitive Machines, included in Masten’s Chapter 11 filing July 28. That agreement covered the SpaceX launch credits alone and Masten did not disclose the value of it in its original filing.
Masten’s long term specialty has been vertical take-off and landing, something it has successfully done for the last several years on suborbital flights. This technology would be of great value to both Astrobotic and Intuitive Machines in developing their own first lunar landers.
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Capitalism in space: Astrobotic, a startup focused on building lunar and planetary unmanned landers, has now made a formal bid to buy the remaining assets of Masten Space Systems, which had also been a startup focused on planetary missions but recently went bankrupt.
In a filing with the U.S. Bankruptcy Court for Delaware Aug. 14, Masten said it received a “stalking horse” bid of $4.2 million for Masten’s assets, including a SpaceX launch credit worth $14 million, from Astrobotic. The agreement, in effect, sets a minimum price for the sale of those assets but does not prevent Masten from seeking higher bids through an auction process that runs through early September.
The agreement appears to supersede an earlier agreement between Masten and a third lunar lander company, Intuitive Machines, included in Masten’s Chapter 11 filing July 28. That agreement covered the SpaceX launch credits alone and Masten did not disclose the value of it in its original filing.
Masten’s long term specialty has been vertical take-off and landing, something it has successfully done for the last several years on suborbital flights. This technology would be of great value to both Astrobotic and Intuitive Machines in developing their own first lunar landers.
Readers!
My annual February birthday fund-raising drive for Behind the Black is now over. Thank you to everyone who donated or subscribed. While not a record-setter, the donations were more than sufficient and slightly above average.
As I have said many times before, I can’t express what it means to me to get such support, especially as no one is required to pay anything to read my work. Thank you all again!
For those readers who like my work here at Behind the Black and haven't contributed so far, please consider donating or subscribing. My analysis of space, politics, and culture, taken from the perspective of an historian, is almost always on the money and ahead of the game. For example, in 2020 I correctly predicted that the COVID panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Every one of those 2020 conclusions has turned out right.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
Bankruptcy, from the point of economics, is not a terrible thing to the national economy – whatever the impact on employees and investors, It’s working just as it should here, allowing assets trapped in a failed firm to migrate to more successful entities.